Jasper FHA Loan Rates, Closing Costs & Stats

Jasper, IN

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Jasper's 34 lenders originated 105 FHA loans during 2023. The total origination value was $23,765,000, with an average FHA loan value of $226,333.

    Jasper FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Jasper averaged 6.39% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

    Jasper's average FHA mortgage closing costs are $5,787.

    The average rate for the prior week (2025-02-07) was 6.4% and one month ago for the week of 2025-01-10, the average rate was 6.57%.

    The average rate one year ago was 6.79%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.42%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Jasper FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Jasper level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 16 6.21% $10,190
    Fifth Third Bank 14 6.41% $5,748
    German American Bank 8 6.58% $6,021
    UNITED WHOLESALE MORTGAGE, LLC 6 7.19% $9,435
    FBC MORTGAGE, LLC 5 4.77% $7,573
    LOANDEPOT.COM, LLC 4 6.59% $11,005
    ENDEAVOR CAPITAL, LLC. 3 6.58% $9,504
    Old National Bank 3 5.92% $6,844
    EVANSVILLE TEACHERS 3 7.04% $6,185
    GVC MORTGAGE, INC. 2 7.19% $5,689
    Bank of England 2 6.38% $10,934
    MORTGAGE MASTERS OF INDIANA, INC. 2 7.25% $6,385
    CARDINAL FINANCIAL 2 6.19% $5,466
    Plains Commerce Bank 2 8.25% $5,078
    CROSSCOUNTRY MORTGAGE, LLC 2 6.75% $9,831
    Prosperity Home Mortgage, LLC 2 6.81% $10,268
    UNION HOME MORTGAGE CORP. 1 7.13% $6,912
    AMERICAN FINANCIAL NETWORK, INC. 1 7.25% $5,415
    U.S. Bank 1 6.75% $5,178
    AMERISAVE MORTGAGE CORPORATION 1 6.00% $18,541
    CALIBER HOME LOANS, INC. 1 6.75% $6,961
    Carrington Mortgage Services, LLC 1 6.63% $8,076
    Century Mortgage Company DBA Century Lending Company 1 7.63% $9,414
    Equity Prime Mortgage LLC 1 7.38% $8,815
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.13% $7,675
    Flanagan State Bank 1 6.63% $4,587
    FREEDOM MORTGAGE CORPORATION 1 6.75% $9,420
    MEMBER FIRST MORTGAGE, LLC 1 6.63% $6,033
    MORTGAGE ACCESS CORP. 1 5.75% $8,397
    MUTUAL OF OMAHA MORTGAGE, INC. 1 7.25% $7,032
    NEWREZ LLC 1 6.63% $11,370
    Northpointe Bank 1 6.25% $7,593
    PLAZA HOME MORTGAGE, INC. 1 6.25% $6,479
    POLARIS HOME FUNDING CORP. 1 6.25% $8,222

    The top Jasper FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 16 FHA loans originated. Their average total fees are $10,190, which is $4,442 higher than the next largest lender, Fifth Third Bank.

    The lowest fee Jasper FHA lenders (with over 10 loans originated) are Fifth Third Bank ($5,748), QUICKEN LOANS, LLC ($10,190), .

    The lowest rate Jasper FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.21%), Fifth Third Bank (6.41%), .

    Jasper FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    JASPER, IN DUBOIS 2022 $420,680 $538,650 $651,050 $809,150
    JASPER, IN PIKE 2022 $420,680 $538,650 $651,050 $809,150
    JASPER, IN DUBOIS 2023 $472,030 $604,400 $730,525 $907,900
    JASPER, IN PIKE 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Jasper (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $183,875 (5.1%) $233,748 (0.2%) 0.00 91
    2018-02-01 $184,025 (4.6%) $241,511 (2.2%) 0.00 88
    2018-03-01 $210,164 (8.1%) $252,127 (3.8%) 0.00 83
    2018-04-01 $225,975 (13.3%) $264,554 (11.8%) 0.00 85
    2018-05-01 $249,900 (19.5%) $275,121 (12.3%) 0.00 82
    2018-06-01 $244,900 (30.0%) $264,515 (13.0%) 0.00 87
    2018-07-01 $216,150 (16.9%) $244,113 (9.2%) 0.00 93
    2018-08-01 $187,024 (3.3%) $236,829 (4.5%) 0.00 93
    2018-09-01 $186,649 (1.2%) $242,452 (2.6%) 0.00 95
    2018-10-01 $186,000 (8.6%) $237,254 (-1.6%) 0.00 104
    2018-11-01 $195,825 (16.9%) $240,979 (1.4%) 0.00 104
    2018-12-01 $195,200 (5.5%) $239,524 (5.0%) 0.00 104
    2019-01-01 $198,725 (8.1%) $239,537 (2.5%) 0.00 98
    2019-02-01 $196,025 (6.5%) $238,671 (-1.2%) 0.00 102
    2019-03-01 $203,064 (-3.4%) $241,841 (-4.1%) 0.00 93
    2019-04-01 $218,425 (-3.3%) $251,840 (-4.8%) 0.00 85
    2019-05-01 $235,000 (-6.0%) $259,357 (-5.7%) 0.00 80
    2019-06-01 $239,000 (-2.4%) $261,557 (-1.1%) 0.00 98
    2019-07-01 $239,000 (10.6%) $252,599 (3.5%) 0.00 113
    2019-08-01 $236,273 (26.3%) $248,549 (5.0%) 0.00 117
    2019-09-01 $232,182 (24.4%) $243,849 (0.6%) 0.00 118
    2019-10-01 $220,488 (18.5%) $240,501 (1.4%) 0.00 119
    2019-11-01 $206,750 (5.6%) $237,260 (-1.5%) 0.00 126
    2019-12-01 $212,375 (8.8%) $251,324 (4.9%) 0.00 112
    2020-01-01 $212,425 (6.9%) $260,802 (8.9%) 0.00 101
    2020-02-01 $214,800 (9.6%) $261,216 (9.5%) 0.00 100
    2020-03-01 $241,175 (18.8%) $278,407 (15.1%) 0.00 99
    2020-04-01 $235,700 (7.9%) $278,431 (10.6%) 0.00 98
    2020-05-01 $242,450 (3.2%) $285,965 (10.3%) 0.00 93
    2020-06-01 $232,600 (-2.7%) $290,081 (10.9%) 0.00 90
    2020-07-01 $243,063 (1.7%) $291,152 (15.3%) 0.00 82
    2020-08-01 $269,900 (14.2%) $300,606 (20.9%) 0.00 66
    2020-09-01 $269,900 (16.3%) $311,891 (27.9%) 0.00 58
    2020-10-01 $255,000 (15.7%) $317,338 (32.0%) 0.00 61
    2020-11-01 $284,725 (37.7%) $314,773 (32.7%) 0.00 55
    2020-12-01 $284,225 (33.8%) $318,160 (26.6%) 0.00 48
    2021-01-01 $232,000 (9.2%) $295,420 (13.3%) 0.00 47
    2021-02-01 $209,975 (-2.3%) $286,976 (9.9%) 0.00 40
    2021-03-01 $253,200 (5.0%) $295,614 (6.2%) 0.00 33
    2021-04-01 $249,000 (5.6%) $300,587 (8.0%) 0.00 33
    2021-05-01 $209,950 (-13.4%) $245,310 (-14.2%) 0.00 36
    2021-06-01 $249,450 (7.2%) $281,675 (-2.9%) 0.00 30
    2021-07-01 $199,500 (-17.9%) $251,940 (-13.5%) 0.00 29
    2021-08-01 $233,250 (-13.6%) $259,344 (-13.7%) 0.00 46
    2021-09-01 $279,900 (3.7%) $284,479 (-8.8%) 0.00 45
    2021-10-01 $249,700 (-2.1%) $286,033 (-9.9%) 0.00 46
    2021-11-01 $263,250 (-7.5%) $309,448 (-1.7%) 0.00 43
    2021-12-01 $265,000 (-6.8%) $283,714 (-10.8%) 0.00 39
    2022-01-01 $279,990 (20.7%) $309,022 (4.6%) 0.00 30
    2022-02-01 $265,925 (26.7%) $302,831 (5.5%) 0.00 28
    2022-03-01 $252,325 (-0.4%) $303,849 (2.8%) 0.00 32
    2022-04-01 $249,950 (0.4%) $338,279 (12.5%) 0.00 31
    2022-05-01 $245,925 (17.1%) $334,725 (36.5%) 0.00 41
    2022-06-01 $266,225 (6.7%) $316,818 (12.5%) 0.00 46
    2022-07-01 $262,450 (31.6%) $317,524 (26.0%) 0.00 52
    2022-08-01 $253,925 (8.9%) $310,685 (19.8%) 0.00 49
    2022-09-01 $282,850 (1.1%) $334,207 (17.5%) 0.00 53
    2022-10-01 $269,700 (8.0%) $336,248 (17.6%) 0.00 63
    2022-11-01 $250,000 (-5.0%) $346,325 (11.9%) 0.00 56
    2022-12-01 $249,900 (-5.7%) $336,247 (18.5%) 0.00 54
    2023-01-01 $257,888 (-7.9%) $334,568 (8.3%) 0.00 49
    2023-02-01 $280,000 (5.3%) $353,230 (16.6%) 0.00 47
    2023-03-01 $294,695 (16.8%) $362,164 (19.2%) 0.00 50
    2023-04-01 $284,940 (14.0%) $319,815 (-5.5%) 0.00 58
    2023-05-01 $273,200 (11.1%) $315,461 (-5.8%) 0.00 65
    2023-06-01 $278,946 (4.8%) $308,917 (-2.5%) 0.00 64
    2023-07-01 $260,000 (-0.9%) $291,021 (-8.4%) 0.00 64
    2023-08-01 $245,750 (-3.2%) $281,066 (-9.5%) 0.00 81
    2023-09-01 $249,900 (-11.7%) $275,315 (-17.6%) 0.00 97
    2023-10-01 $253,150 (-6.1%) $288,982 (-14.1%) 0.00 104
    2023-11-01 $247,400 (-1.0%) $280,340 (-19.1%) 0.00 102
    2023-12-01 $244,000 (-2.4%) $282,408 (-16.0%) 0.00 84
    2024-01-01 $246,575 (-4.4%) $281,983 (-15.7%) 0.00 71
    2024-02-01 $266,925 (-4.7%) $300,164 (-15.0%) 0.00 63
    2024-03-01 $286,000 (-3.0%) $304,875 (-15.8%) 0.00 62
    2024-04-01 $290,000 (1.8%) $321,599 (0.6%) 0.00 67
    2024-05-01 $289,000 (5.8%) $360,317 (14.2%) 0.00 79
    2024-06-01 $272,450 (-2.3%) $352,844 (14.2%) 0.00 92
    2024-07-01 $275,675 (6.0%) $352,150 (21.0%) 0.00 98
    2024-08-01 $250,000 (1.7%) $332,143 (18.2%) 0.00 93
    2024-09-01 $259,000 (3.6%) $334,140 (21.4%) 0.00 95
    2024-10-01 $254,393 (0.5%) $351,448 (21.6%) 0.00 87
    2024-11-01 $262,350 (6.0%) $348,773 (24.4%) 0.00 89
    2024-12-01 $269,850 (10.6%) $354,698 (25.6%) 0.00 86
    2025-01-01 $272,375 (10.5%) $358,875 (27.3%) 0.00 79
    Jasper's median listing price for 2025-01-01 was $272,375, a difference of $25,800 (10.5%) versus the prior year and $2,525 versus the prior month.

    Jasper's median listing price comes in at 0% of the national average.

    Jasper's average listing price for 2025-01-01 was $358,875, a difference of $76,892 (27.3%) versus the prior year and $4,177 versus the prior month.

    For the 2025-01-01 period, Jasper had 79 MLS listings, a difference of -7 listings (-8%) versus the prior month and 8 listings (11%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Jasper (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,159 sqft
    2018-02-01 0 days 2,353 sqft
    2018-03-01 0 days 2,606 sqft
    2018-04-01 0 days 2,464 sqft
    2018-05-01 0 days 2,680 sqft
    2018-06-01 0 days 2,580 sqft
    2018-07-01 0 days 2,193 sqft
    2018-08-01 0 days 2,223 sqft
    2018-09-01 0 days 2,275 sqft
    2018-10-01 0 days 2,390 sqft
    2018-11-01 0 days 2,436 sqft
    2018-12-01 0 days 2,350 sqft
    2019-01-01 0 days 2,331 sqft
    2019-02-01 0 days 2,290 sqft
    2019-03-01 0 days 2,225 sqft
    2019-04-01 0 days 2,223 sqft
    2019-05-01 0 days 2,550 sqft
    2019-06-01 0 days 2,236 sqft
    2019-07-01 0 days 2,243 sqft
    2019-08-01 0 days 2,272 sqft
    2019-09-01 0 days 2,311 sqft
    2019-10-01 0 days 2,328 sqft
    2019-11-01 0 days 2,236 sqft
    2019-12-01 0 days 2,290 sqft
    2020-01-01 0 days 2,331 sqft
    2020-02-01 0 days 2,340 sqft
    2020-03-01 0 days 2,371 sqft
    2020-04-01 0 days 2,447 sqft
    2020-05-01 0 days 2,537 sqft
    2020-06-01 0 days 2,573 sqft
    2020-07-01 0 days 2,445 sqft
    2020-08-01 0 days 2,513 sqft
    2020-09-01 0 days 2,518 sqft
    2020-10-01 0 days 2,579 sqft
    2020-11-01 0 days 2,514 sqft
    2020-12-01 0 days 2,354 sqft
    2021-01-01 0 days 2,279 sqft
    2021-02-01 0 days 2,406 sqft
    2021-03-01 0 days 2,703 sqft
    2021-04-01 0 days 2,623 sqft
    2021-05-01 0 days 2,400 sqft
    2021-06-01 0 days 2,141 sqft
    2021-07-01 0 days 1,914 sqft
    2021-08-01 0 days 2,121 sqft
    2021-09-01 0 days 2,348 sqft
    2021-10-01 0 days 2,152 sqft
    2021-11-01 0 days 2,544 sqft
    2021-12-01 0 days 2,205 sqft
    2022-01-01 0 days 2,336 sqft
    2022-02-01 0 days 2,258 sqft
    2022-03-01 0 days 2,243 sqft
    2022-04-01 0 days 2,405 sqft
    2022-05-01 0 days 2,359 sqft
    2022-06-01 0 days 2,073 sqft
    2022-07-01 0 days 2,100 sqft
    2022-08-01 0 days 2,006 sqft
    2022-09-01 0 days 2,176 sqft
    2022-10-01 0 days 2,097 sqft
    2022-11-01 0 days 1,948 sqft
    2022-12-01 0 days 1,972 sqft
    2023-01-01 0 days 1,941 sqft
    2023-02-01 0 days 1,843 sqft
    2023-03-01 0 days 1,832 sqft
    2023-04-01 0 days 1,776 sqft
    2023-05-01 0 days 1,870 sqft
    2023-06-01 0 days 2,092 sqft
    2023-07-01 0 days 1,996 sqft
    2023-08-01 0 days 1,978 sqft
    2023-09-01 0 days 2,014 sqft
    2023-10-01 0 days 1,975 sqft
    2023-11-01 0 days 1,924 sqft
    2023-12-01 0 days 1,920 sqft
    2024-01-01 0 days 2,020 sqft
    2024-02-01 0 days 2,166 sqft
    2024-03-01 0 days 2,183 sqft
    2024-04-01 0 days 2,256 sqft
    2024-05-01 0 days 2,186 sqft
    2024-06-01 0 days 2,076 sqft
    2024-07-01 0 days 2,151 sqft
    2024-08-01 0 days 2,140 sqft
    2024-09-01 0 days 2,127 sqft
    2024-10-01 0 days 2,092 sqft
    2024-11-01 0 days 2,208 sqft
    2024-12-01 0 days 2,258 sqft
    2025-01-01 0 days 2,249 sqft
    Jasper's median listing age (time on market) for 2025-01-01 was 0 days.

    Jasper's median square footage for active listings during the 2025-01-01 period was 2,249 sqft. One year prior, the average listing was 2,020 sqft.

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).